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UPDATE 1-TriQuint posts narrower-than-expected quarterly loss
July 25, 2012 / 10:20 PM / 5 years ago

UPDATE 1-TriQuint posts narrower-than-expected quarterly loss

* Sees Q3 rev $195 mln-$205 mln vs est $202.3 mln

* Expects to break even in Q3 on adjusted per share basis

* Q2 rev $178 vs est $176.8

* Q2 adj loss $0.09 per share vs est $0.11 (Adds details, forecast, analysts estimates)

July 25 (Reuters) - Chipmaker TriQuint Semiconductor Inc posted a narrower-than-expected quarterly loss and forecast current-quarter results in line with expectations.

The company, which makes chips used in mobile phones to connect to data and voice networks, expects to break even in the third quarter on an adjusted basis, and post revenue of $195 million to $205 million.

Analysts on average are expecting the company to break even on an adjusted basis, and post revenue of $202.3 million, according to Thomson Reuters I/B/E/S.

“The company is 90 percent booked to the midpoint of revenue guidance,” TriQuint said in a statement.

The company said its expects third-quarter adjusted gross margins to be between 30 percent and 32 percent, compared with 27.9 percent in the second quarter.

TriQuint reported a second-quarter loss of $16.5 million, or 10 cents per share, compared with a profit of $16.6 million, or 10 cents in the prior year.

Excluding items, the company which competes with Anadigics Inc, RF Micro Devices Inc and Skyworks Solutions Inc, posted a loss of 9 cents per share.

The chipmaker had warned of a loss of between 10 cents and 15 cents per share in April, citing weakness in demand for mobile devices at its key customer.

TriQuint’s biggest customer is Foxconn Technology Group, which supplies chips used in Apple Inc’s iPhone.

Revenue fell 22 percent to $178 million in the second quarter.

Analysts on average were expecting a loss of 11 cents on revenue of $176.8 million.

Shares of TriQuint closed at $4.93 on Wednesday on the Nasdaq. They were down slightly at $4.91 in extended trading. (Reporting by Neha Alawadhi in Bangalore; Editing by Roshni Menon)

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